Thats what an official from the FOS said today via phone and Welcome cant keep my money cos the 2 accounts are now all paid up. Was on the phone to Welcome today and I asked about arrears and she said that the new contracts will be dated from the new start date without any PPI and any arrears. So I said so in effect I dont owe you anything because the accounts are now all paid up as of yesterday, she then said they may remove all the arrears. My question then was that if the PPI was not added to the loan in the begining then any arrears would not be added to the account so in effect Welcome owe me more money. I have a contract here to sign and send back for a loan but the car I have to go to the local branch and sign on there premises, I didnt with the first agreement so whats changed. Welcome and the FOS said the contracts will be dated from the beginning without any PPI added. One account the payment had dropped from £326 a month to £244.00 saving me a whopping £82 a month. Now times that by 37 months (£3034) plus there interest rate which I didnt know was this high (30.27%) plus the 8% stat interest rate and the £200 they owe me for the hassle, and thats just one account. Another one to go Regards

Been in contact with the FOS and they say the resigning a new contract is normal and expected. So do I sign? Also, how is the interest worked out because looking at the new contract and the old contract I've overpaid the PPI by £2951.64. So will they refund me that at their interest rate plus 8% and the £200 for the hassle, if thats the case I worked it out they owe me £4334.54 and thats only one account. Anyone know.

Also today I've received a photocopy of a new contract but although they say in the letters above that the new contracts will be back dated, the new contract dont have any dates on them? So are they legal contracts?

Received a letter from Welcome today, well 2 actually but should of been 3 so I'll have to have a chat with them over that, anyway. They want us to sign a new contract but its back dated to the original contract date but without PPI added, is this the right way to go? They say that if I dont agree within 4 weeks they are in so many words washing there hands with the claim, will call the FOS tomorrow and ask their opinion. Letter attached. PS, 2 batches of letters, one is for a loan and the other is hire purchase.

Reveived a call from Welcome saying because they have loads and loads of cases to go through, they will take more than the 8 weeks the FSO stated. What can I do or for that matter what can the FSO do if they dont resolve my case under the 8 weeks. Regards

I used the calculator thats available here and with the details of only 2 accounts (the current ones) and not including the refinanced account, I see so far that Welcome owe me £7200 and thats only 2 accounts. I can see them trying to just close the 2 accounts I have and try and call it quits, no way. I owe about £5000 in total so Im expecting £2500 plus back as well. Lets see how it goes. Regards

Im in the same boat, so the word of the FOS is not set in stone and Welcome can still not pay out regardless what the FOS says. Regards and glad ya won.

Called the FOS and they said yes it was for the 3 accounts plus 8% interest and £200 for hassle. Sent paperwork via fax, now I have to wait upto 8 weeks for a reply from Welcome. Regards

I did have the agreements but I looked today and cannot find them. The last time I called the FOS they said that they was waiting for Welcome to produce paperwork, this I presume was the agreements. I calculated that the whole 3 could be over £6,000 without interest and any other fee's due plus the £200 Welcome said the would pay. This is over what I now owe. Im not going to sign a contract agreeing to Welcomes terms until I have all the figures in front of me and I hope the FOS has them. Regards

I was going to call the FOS tomorrow and find out these things because the letter is a bit vague. Also I was going to call Welcome and ask what terms they was going to offer because I dont want them to just say we will close my accounts and call it quits. The PPI alone on the 3 accounts with interest comes to over twice as much as I currently owe so if they do close the accounts Im still due money back. Should I call the FOS and Welcome and the FOS has sent me a letter to sigh agreeing to the offer but I dont know any figures to agree with. Regards

If you read my post you would see I did indeed complain via the FOS and its them that sent me the letter. I did include the old refinanced account, the new account and the car in the complaint. So Welcome have agreed and the FOS has said so but Im confused that the FOS says Welcome will provide me an offer not refund all PPI paid to date. No point in me cancelling, not long to go so I might as well leave it as it is, its going to be cancelled anyway. Regards

Anyone?

Ok update. Received a letter from the FOS and I quote "I'am pleased to be able to let you know that blah, blah Welcome Finance etc has agreed to make an offer to you." They also state that Welcome will pay me £200 extra compensation for distress and the inconvenience. Now, they also state that "The settlement of your complaint will be calculated by taking into account the type of PPI policy or policies you have - and whether or not they are still in force". Now, as far as I see it if they have already agreed they are at fault and my loans are 2 months from being cleared does this mean I will not get all the PPI back plus interest to date? because the FOS letter says "offer" and not return of the over paid PPI. I have one loan that I refinanced and brought out a new loan plus I have a car agreement as well so in fact there are 3 agreements with paid PPI. Any ideas? Regards

Yes it was and I think what has happened is the debt was sold on and the company whom now owns it applied for the CCJ. I only found out after seeing the CCJ on the credit file. Regards

Thanks.

I did call them a few weeks ago and they said its been handed over to someone to look at and thats it. They also said they have written to Welcome and are waiting a reply. Regards

Hi Guys, Just to happen and checked me and my wifes credit file and I see a CCJ has been issued, this I know would be on a old address. We have not received any paperwork or contact against this debt for over 6 years plus so my questions are...... Is this legal to issue a CCJ with no contact? Can I get it removed? Can I get the debt written off? Any ideas! Regards

Its been a few months and so far received no response from the Financial Ombudsman Service. Anyone know if there is a time limit? Regards

Just placed a formal complaint against Welcome via the Financial Ombudsman Service. Waiting for the paperwork. Regards.

Well all I can say is thanks all for the help and advice. Its been close to 3 months and so far not received a single reply from Welcome in regards to my letter above. So what now?

Thanks for the help guys.

Per my post above regarding the letter I sent off on the 31/12/08 and I faxed it to my local branch as well just in case. So far all I have received from Welcome is the above leaflet and some peep on the phone quoting the terms of this leaflet and thats all. Its now been almost 2 months and no other communication has been received from Welcome so whats my next course of action? Regards

Anyone know if the leaflet is applicable to me?

Hi Guys, Find attached a leaflet that I received today from Welcome but the leaflet is dated 0109 on the rear. Am I to presume my PPI is covered by this leaflets terms and conditions although my PPI was signed for 4 years June coming? Regards. Welcome Finance PPI Leaflet

So what do you think about the pro-rata refunds?